Markets Media: Market Data Fees in Focus

By Jen Fagenson

January 18, 2019

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Picking up on the debate that began at the SEC’s two-day Market Data roundtable in October, industry participants at the Security Trading Association of Chicago’s (STAC) 93rd Annual Mid-Winter Meeting last week were divided on the scope of the problem with market data costs and the appropriate solution.

While the issue of exchange data fees were the simmering topic throughout the conference, particularly with the announcement earlier this month of plans by nine financial institutions to launch MEMX, the discussion reached a crescendo during Wednesday afternoon’s market data panel.

“If you’re a broker who wants to be taken seriously in the execution space, the SIP is simply not adequate,” said Dash’s Chief Growth Officer Glenn Lesko, a participant on the panel. “That means you need to purchase the direct feeds from the exchanges, and the costs on those are considerable.”

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